News Release - May 07, 2014
Pure Nickel Commences Exploration Program on Salt Chuck Property
TORONTO: May 7, 2014. Pure Nickel Inc. (TSXV: NIC) (the "Company") is pleased to report that it has commenced exploration activity on its 100% owned Salt Chuck Copper (Cu) - Gold (Au) - Silver (Ag) - Palladium (Pd) Property, located near Thorne Bay on Prince of Wales Island in south-eastern Alaska.
Phase I of the work program will consist of approximately 1,000 metres of diamond drilling. The drill program is designed to test the continuity of high grade Au-Cu mineralization encountered in drill hole NPH-12-04, which was completed in late 2012 in the North Pole Hill part of the Salt Chuck Property (see Figure 1). This hole intersected 29.1 g/t Au, 14.1 g/t Ag, and 0.79% Cu over 2.58 metres apparent width (see press release dated December 11, 2012). The 2014 Phase I drill program, which is expected to consist of 8 to 10 relatively short drill holes, will also establish the trend of the mineralization such that subsequent drill programs can be designed with maximum efficiency. In addition to drilling, a soil sampling work program will be undertaken to provide more detailed infill soil data to help guide Phase II drilling.
Phase I of the exploration program is expected to be complete by the end of June, 2014. The Phase II work program will test for bedrock mineralization beneath a series of coherent, linear to curvilinear Au anomalies in soil samples that stretch from the discovery hole to the southeast and south (Figure 1). These anomalies are interpreted to reflect Au-Cu mineralization similar to that intersected in drill hole NPH-12-04. The amplitude of the anomalies to the south and east, however, are significantly higher than those found in the vicinity of the discovery hole. This may indicate that the underlying mineralization is more extensive or higher grade. Phase II work is anticipated to commence in late 2014, but timing will be dependent on approval of a new plan of operations by federal authorities. Jon Findlay, Ph.D. P.Geo. is the designated Qualified Person for this project.
Figure 1. Soil Au Anomalies in the North Pole Hill Area, Salt Chuck Property, Alaska
About the Salt Chuck Property
The Salt Chuck Property consists of 146 contiguous federal lode mining claims located on Prince of Wales Island on the Alaskan Panhandle. The island is accessed by ferry service, and direct access to the property is by well-maintained U.S. Forest Service roads and by water. The discovery of high grade gold in 2012 and the strong untested gold soil anomalies in the North Pole Hill Area bode well for future exploration initiatives.
About Pure Nickel Inc.
Pure Nickel Inc. is a mineral exploration company with a diverse collection of nickel, copper and platinum group element exploration projects in North America. In 2013 the Company completed a US$3.0 million exploration program on the MAN Property in Alaska. In addition, the Company has completed a favourable nickel deportment study on the MAN Property's Eureka Zone and completed a re-evaluation of its William Lake Property as a bulk tonnage nickel prospect.
Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Pure Nickel Inc.
David McPherson
T. (416) 644-0066
info@purenickel.com
www.purenickel.com
CHF Investor Relations
Cathy Hume
T. (416) 868-1079 x 231
cathy@chfir.com
www.chfir.com
- Associated File: http://www.purenickel.com/i/pdf/2014-05-07_NR.pdf
- 280 KB in size, approx. 53 seconds to download at 56.6Kbps
Copyright � 2014 Pure Nickel Inc. (NIC) All rights reserved. For more information visit our website at http://www.purenickel.com/ or send email to info@purenickel.com
Click here to unsubscribe
|